Ad Platform PubMatic Working on IPO

Offering Will Aim for Price Valuing Firm at More Than $1 Billion

PubMatic Inc., which automates the buying and selling of digital advertising space, has tapped bankers for a potential initial public offering, people familiar with the matter said.

The company is working with Credit Suisse Group AG and Citigroup Inc. on the offering, which could come later this year, the people said. It will aim for a price that values the company at more than $1 billion, they added.